Chinese oil major CNOOC installed its first turbines at sea and unveiled plans to increase investment in the sector, a year after announcing its offshore wind comeback.

CNOOC will now allocate 3-5% of its annual future Capex to offshore wind development, company president Keqiang Xu said in a briefing on its 2020 business strategy, while admitting that the oil group is still “slowly exploring” its business model in the hotly-contested market.